No doubt the rich and powerful have been cracking up with laughter for decades over their ability to peddle "trickle-down economics" to a trusting public.
But a surprisingly strong report just released by the prestigious Organization for Economic Co-operation and Development (OECD) may cause the public to regard these wealthy snakeoil salesmen more skeptically in the future.
Essentially, the OECD report reveals the immensity of the trickle-down scam, which the report shows has not only failed to foster economic growth as promised, but has proved to be an overall killer of economic growth.
This article is adapted from This Changes Everything: Capitalism vs. the Climate, by Naomi Klein and was first published in The Nation. You can read our review on rabble.ca here.
About a year ago, I was having dinner with some newfound friends in Athens. I had an interview scheduled for the next morning with Alexis Tsipras, the leader of Greece's official opposition party and one of the few sources of hope in a Europe ravaged by austerity. I asked the group for ideas about what questions I should put to the young politician. Someone suggested: "History knocked on your door -- did you answer?"
There is one billionaire for every three million people in the world.
Number of billionaires in the world in 2014 -- a 7 per cent increase since last year and it represents an all-time record high. They control nearly 4 per cent of the world's wealth.
$7.3 trillion (U.S.)
Combined worth of the world's billionaires in 2014 -- up 12 per cent since last year. That's higher than the market capitalization of all the companies included in the Dow Jones Industrial Average.
Percentage of the world's billionaires living in the United States. It's the country with the most billionaires -- 571 of them.